Revenue at DMGT, which owns the Daily Mail newspaper, said total sales dropped 2%, while sales excluding fluctuations in currency rates and closed businesses rose 2%. A mixed picture, then.
Circulation dropped 3%, but advertising revenue rose 6% in the last three months of 2018.
Paul Zwillenberg, chief executive of DMGT, said:
“Our strategy is gaining traction and we delivered a robust performance across our more focused portfolio in the first quarter with underlying revenue growth across the breadth of our B2B and Consumer Media businesses.
“Within Consumer Media, MailOnline returned to double-digit growth and increased total underlying revenues by 14%, benefiting from the inclusion of DailyMailTV which continues to resonate well with its US audience.
“Our B2B companies all delivered underlying revenue growth with EdTech notable for a 17% increase, driven by continued strength in subscription revenues across its product set.
“DMGT remains in a net cash position which provides us with significant financial flexibility as we continue to execute against our strategy.”